Razorpay builds a payments and financial services platform for Indian businesses to accept, process, and manage transactions.
$600MIPO
Investor undisclosed
A $600M IPO for an Indian payments platform signals that venture-scale fintech exits are finally happening in India—this isn't a unicorn sitting in limbo anymore. Razorpay likely used the capital to build out lending, invoicing, and embedded finance products beyond core payments, which is the playbook for payments companies to escape commoditization. If you're building B2B infrastructure in emerging markets, watch how they're pricing and bundling services post-IPO; that's your template for defensibility.